We know about living and working here in Midland. it’s important to protect your assets and safeguard against unforeseen circumstances. Umbrella Insurance for Midland, Texas homeowners (and the rest of West Texas) proves a great idea.

You may have standard insurance coverage in place for your home and auto. One way to achieve comprehensive coverage is by obtaining umbrella insurance. This additional coverage provides an extra layer of protection beyond your existing homeowners and auto policies.

Umbrella insurance policies offer increased liability protection. This allows you peace of mind in the event of a major accident or personal injury claim. It can help cover the costs like:

  • Legal defense
  • Medical expenses
  • Property damage that exceeds the limits of your underlying policies

Let’s find out more about how this coverage protects.

When it Rains it Pours

Once upon a time in West Texas, there lived a happy couple named Sarah and David. They had just purchased their dream home nestled in the heart of Midland. Life was sweet.

Little did they know, life had a curveball in store for them. One sunny afternoon, Sarah organized a pool party for their friends and family. Among the guests was a lively bunch of kids, laughing and splashing around in the crystal-clear water. Everything seemed perfect until one misstep resulted in a serious accident.

A couple of the children slipped near the pool and the resulting accident brought about large medical bills. 

The parents of the children sued Sarah and David. 

The party was certainly over at that point. 

Understanding the Coverage Provided by an Umbrella Policy

What Sarah and David didn’t have was umbrella insurance. They could have used an additional layer of protection that could have saved their finances at that very moment.

Their homeowners’ policy and liability limits were exhausted, leaving them exposed to costly legal proceedings. The medical bills alone threatened to wipe out their entire savings.

Had they opted for an umbrella insurance policy, they could have avoided the financial strain. Umbrella insurance provides additional liability coverage beyond what traditional policies offer, safeguarding personal assets and future earnings. It not only covers bodily injury and property damage but also provides legal defense costs in case of lawsuits.

When it comes to protecting your assets and providing peace of mind, an umbrella policy offers an additional layer of protection that can supplement your existing homeowners and auto insurance policies.

While its name may be confusing, an umbrella policy doesn’t protect you from the rain, but rather from costly lawsuits and legal expenses. It provides extra liability coverage that goes beyond the limits of your existing policies.

With the potential for accidents and unforeseen events, understanding the coverage provided by an umbrella policy is essential for West Texas homeowners.

Let’s explore the key aspects of this type of insurance and how it can safeguard your financial interests.

Additional Coverage Added to a Primary Policy

With umbrella insurance, you can increase your liability limits beyond what your primary policies offer. This protects you from costly legal expenses and unexpected damages that exceed your primary policy limits. Whether you’re involved in an auto accident or someone injures themselves while on your property, umbrella insurance has got you covered.

Many West Texas homeowners find umbrella insurance particularly valuable due to the extra protection it provides for their valuable assets like rental properties or personal belongings. 

Liability Limit Increase for Homeowners and Auto Policies

Let’s say you host a pool party at your West Texas home and a guest slips and gets injured. The medical expenses and potential legal costs could exceed your homeowner’s insurance liability limit. This is where umbrella insurance coverage comes into play. It would provide the necessary additional liability coverage to protect your assets and future earnings.

Similarly, if you’re involved in a severe auto accident where multiple people are injured, the liability limits of your auto insurance may not be enough to cover the medical expenses, legal defense costs, and potential lawsuits. That’s when umbrella insurance steps in to provide the extra protection needed to avoid financial turmoil.

By having an umbrella insurance policy, you have peace of mind knowing that you have additional liability coverage to safeguard you from unforeseen events. It acts as a safety net when your underlying policies have reached their limits.

So, whether it’s a pool party injury, a serious auto accident, or any other liability situation, homeowners and auto policyholders in West Texas can benefit greatly from umbrella insurance coverage. It’s an essential type of coverage that provides additional protection and increases the liability limits of your existing policies.

Be sure to consult your insurance agent who can guide you through the process of obtaining the right amount of coverage for your needs.

Mike Lively Insurance Agency is Covering West Texas

At Mike Lively Insurance Agency, we understand the unique needs and challenges of homeowners in West Texas, which is why we offer comprehensive umbrella insurance coverage. Our home base in Midland allows us to serve homeowners in the region with personalized service and expert knowledge.

By working with our team of experienced and independent insurance agents, homeowners can rest easy knowing that their specific needs and concerns are addressed. We offer peace of mind by tailoring umbrella policies to provide the right level of coverage for each homeowner, ensuring that their personal property, bodily injury, and property damage are protected.

Whether it’s a swimming pool accident at a backyard pool party or a false arrest claim, our umbrella insurance coverage safeguards homeowners from financial stress and uncertainty. We recognize the importance of protecting a homeowner’s investments, and our comprehensive umbrella policies provide the necessary liability protection.

When it comes to protecting your home and assets, don’t settle for standard homeowners coverage. Trust Mike Lively Insurance Agency to provide the extra layer of protection that you deserve with our reliable umbrella insurance policies.

Contact us today to learn more about how we can help you safeguard your future.